Research Update: Lonestar Intermediate Super Holdings LLC Rated 'B+'; Outlook Stable Feb 12
Standard & Poors, February 2012
Abstract
Lonestar's parent, NEWAsurion Corp., has significant leverage and fluctuating credit metrics. We are assigning 'B+' ratings to Lonestar and rating its senior unsecured debt 'B-' with a '6' recovery rating. The stable outlook reflects our view that Lonestar will continue to service its debt adequately. On Feb. 13, 2012, Standard & Poor's Ratings Services assigned its 'B+' long-term counterparty credit rating to Lonestar Intermediate Super Holdings LLC (a wholly owned subsidiary of NEWAsurion Corp.) At the same time, we assigned a 'B-' senior unsecured debt rating to Lonestar Intermediate Super Holdings' $1 billion senior unsecured term loan facilities. The outlook is stable. We are also revising our senior secured debt rating on Asurion Corp. LLC's (Asurion) first-lien senior credit facility...
Companies mentioned in this report are:
- Lonestar Intermediate Super Holdings, LLC
- Asurion LLC
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Lonestar Intermediate Super Holdings, LLC
- Asurion LLC
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